The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) increased by TRY50/mt ($7/mt) to TRY2,240/mt delivered on Monday, while prices for extra grade scrap (equivalent to HMS 1&2 [85:15]) rose by TRY51/mt ($7/mt) to TRY2,122/mt delivered. 

 

Most Turkish mills switched to ferrous scrap purchases in the domestic market. As a result, they decided to raise purchase prices for local material last week in order to spur its inflow in an attempt to reduce imports.

 

Colakoglu Metalurji and Diler Demir Celik lifted their purchase prices by TRY35/mt on September 9 and are now buying DKP grade at TRY2,260/mt delivered and at TRY2,205/mt delivered, respectively, and extra grade at TRY2,115/mt delivered and at TRY2,105/mt delivered, respectively.

 

Erdemir also upped its purchase prices by TRY110/mt to TRY2,310/mt delivered for DKP grade and to TRY2,305/mt delivered for extra grade, while Isdemir raised them by TRY90/mt to TRY2,020/mt delivered for DKP grade and to TRY2,015/mt delivered for extra grade. Both mills revised prices several times last week.

 

Kardemir announced new purchase prices at TRY2,345/mt delivered for DKP grade and at TRY2,185/mt delivered for extra grade on September 8, increasing them by TRY130/mt.

 

In the Izmir region, purchase prices for shipbreaking scrap remained unchanged at $285/mt delivered during the past week.

 

($1 = TRY7.49)

 

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